UK housebuilder Berkeley Group expects profits to flatline despite housing boom March 12, 2021 Berkeley Group said this morning that profits are set to flatline this year, in line with expectations. The UK housebuilder said it is on track to post a similar profit to last year’s £503m, and that forward sales are expected to be more than £1.7bn for the year. It estimated that future gross margin in [...]
Meet the ultimate fixer-upper hidden away in St John’s Wood March 11, 2021 To a certain type of buyer, there’s something irresistible about the idea of a fixer-upper. There’s a romance to the idea of taking a shabby husk – preferably one with a storied and/or industrial history – rolling up one’s sleeves and turning it into a beloved family home. Well, prepare for some serious property pornography, [...]
Oxford Street: This is what the UK’s shopping destination could look like after lockdown March 11, 2021 Oxford Street – the world famous shopping destination that attracts millions of Londoners and tourists every year – is set to look drastically different when the city emerges from the latest coronavirus lockdown. An arts centre, 25 metre artificial hill and play areas in bus lanes are among the ideas that have been floated to [...]
Savills to pay dividend as UK residential unit makes ‘extraordinary’ recovery March 11, 2021 Savills has reinstated its dividend this morning as it reported that its UK residential agency division performed strongly last year, despite an overall drop in profit. The estate agent chain, which last year suspended its dividend due to the uncertainty caused by the coronavirus pandemic, said shareholders will pocket a 17p per share payout. Profit [...]
The man who transforms grey urban spaces into green oases March 10, 2021 The last year has taught us the importance of outdoor spaces, little oases of green amid the grey expanse of the city where we can safely meet even during a pandemic. But what exactly goes into creating such a space? We caught up with someone who knows: Nigel Dunnett, professor of Planting Design, Urban Horticulture [...]
Government extends ban on commercial property evictions to dismay of landlords March 10, 2021 The government has extended its ban on commercial property evictions for a further three months, to the dismay of landlords who say some tenants “can pay, but won’t pay” their rents. Robert Jenrick MP, the housing minister, this afternoon confirmed that the block on evictions will continue until 30 June, compared to the previous cut [...]
Foxtons revenue rebounds in 2021 after lockdown hit London sales and lettings last year March 10, 2021 London estate agent Foxtons this morning said revenue had boomed at the beginning of this year as the market continued to be buoyed by pent-up demand and the stamp duty holiday. Foxtons said revenue for the first two months of 2021 is “well ahead” of both last year and 2019, with the sales commission pipeline [...]
Renters mull move back to central London to experience city buzz after lockdown lifts March 10, 2021 Renters are flooding back to central London in hopes that life will return to the capital when lockdown restrictions are lifted this year. The latest research showed that online searches for properties in Zones 1 and 2 have surged, as people look to take advantage of falling rental prices. According to property platform Rightmove, all [...]
Habito launches UK’s longest-ever fixed rate mortgages March 10, 2021 Habito has today announced that it will launch the nation’s longest-ever fixed rate mortgage, which will come without early repayment charges or exit fees. The “Habito One” will give buyers of all types access to long-term fixed rate periods starting at 10 years, going up to an unprecedented 40-year fixed rate term. The firm said [...]
Pandemic wipes almost £1bn off Covent Garden landlord Capco’s portfolio March 9, 2021 West End landlord Capital & Counties suffered a sharp drop in its property values last year, wiping almost £1bn of its portfolio. Capco, which owns Covent Garden, reported this morning that its total property value last year was £1.9bn, down from £2.8bn in 2019. The total property value of Covent Garden fell 27 per cent [...]